Divaris Real Estate, Inc. (DRE) announces the completion of four transactions totaling 2 acres and 2,815 square feet of sold and renewed commercial space in Virginia Beach, Virginia.

Sales Transaction

Branch Banking and Trust Company (BB&T) purchased 1.5 acres of land located at 948 Laskin Road in Virginia Beach from WHLR – Laskin Road, LLC for $2,832,500. Krista Costa and Katherine Olson brokered the sale on behalf of the buyer.

Lease Renewals

Three leases were renewed for retail space in the Divaris-leased and -managed Fairfield Shopping Center located at 5242 Fairfield Shopping Center in Virginia Beach. Papa John’s Pizza renewed its lease for 1,440 square feet of retail space. Fairfield Barber Shop renewed its lease for 775 square feet of retail space. George’s Shoe Repair renewed its lease for 600 square feet of retail space. George Fox and Kris Fuller represented the landlord in the lease negotiations. Other tenants in Fairfield Shopping Center include: Food Lion, T.J.Maxx, Taylors Do-It Center, Moe’s Southwest Grill, Five Guys Burgers and Fries, AT&T, Hardee’s, SunTrust, Starbucks, and Dominos.

About Divaris Real Estate

Divaris Real Estate, Inc. is headquartered in Virginia Beach, VA with offices in Newport News, Norfolk, Richmond and Roanoke, VA; Charlotte, NC; Beverly Hills, CA; and Washington, DC. Divaris Real Estate and Divaris Property Management Corp. are divisions of The Divaris Group, an international real estate brokerage and property management company that currently manages and/or leases over 36.8 million square feet of prime office, retail and industrial space from New Jersey to Florida. Gerald S. Divaris is Chairman of the Board, and Michael B. Divaris is President of Divaris Real Estate, Inc.

Divaris Real Estate is a member of Realty Resources, (http://www.realtyresources.org/) a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S. DRE is also the Virginia affiliate for The CORE Network, (http://www.corenetworkcre.org/) a national group of office and industrial brokers with affiliates throughout the U.S., Canada, Mexico, Asia and Europe. These organizations represent corporate and institutional clients, tenants and buyers in all aspects of leasing, development, management, sales and acquisitions.